Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

3 Months Ended

Nov. 30, 2023

NOTE 12 – EARNINGS PER SHARE

Earnings per share (EPS) is calculated by dividing net income attributable to common shareholders by the weighted-average shares of common stock outstanding during the period. Certain outstanding options are excluded from the diluted EPS calculation because they are anti-dilutive (i.e., their assumed conversion into common stock would increase rather than decrease EPS). For the three months ended November 30, 2023 and 2022, the Company excluded 487,882 options and 610,395 options because their impact was anti-dilutive.


	Three Months Ended
(In thousands, except share and per share amounts)	November 30, 2023		November 30, 2022
Net income	$	2,065	$	159

Basic weighted average common shares		24,078,544		23,985,788
Effect of dilutive securities		75,118		102,105
Weighted average shares applicable to diluted earnings per share		24,153,662		24,087,893

Earnings per share - basic	$	0.09	$	0.01
Earnings per share - diluted	$	0.09	$	0.01